(Offshore-energy.biz) Offshore drilling contractor Diamond Offshore Drilling is looking forward to reaping the benefits of higher day rates, once its rigs move to their new contracts that poured in during 2023. With $245 million in backlog added in the fourth quarter of 2023, the rig owner’s fleet utilization level rose to 69% while its revenue efficiency remained the same as during the previous quarter.
Diamond Offshore’s contract drilling revenue for 4Q 2023 totaled $298 million compared to $245 million in the third quarter of 2023. The increase in revenue quarter-over-quarter was primarily due to the start of the Ocean BlackHawk drillship’s contract in the Gulf of Mexico in the fourth quarter, after the completion of an MPD installation, special periodical survey, and contract preparation work.
This increase was also driven by new contract commencements for the Ocean Patriot and Ocean Apex semi-submersible rigs, partially offset by lower revenue for the Ocean Courage semi-sub due to contract preparation activities related to its new multi-year contract in Brazil.
For full article read: https://www.offshore-energy.biz/diamond-offshores-ceo-designates-2023-as-transformational-year-with-multi-million-dollar-rig-deals-in-the-bag/
Brazil Energy Insight 
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